Qatar’s automobile sector makes a strong rebound in September

      Published on Tuesday, 3 November , 2020      341 Views     
Qatar’s automobile sector makes a strong rebound in September

  • Doha News

A robust expansion in the registration of new vehicles, especially private, helped Qatar’s automobile sector make a strong rebound month-on-month in September 2020, as the country eased restrictions related to the Covid-19 pandemic, according to the Planning and Statistics Authority (PSA).





The total number of new vehicles registered in September stood at 6,191 units, which marked a 35.6% and 4.6% surge month-on-month and year-on-year, respectively.

New vehicle registration stood at 4,565 units in August 2020 and 5,921 in September last year.

Of the 6,191 vehicles registered in September this year, the number of new private vehicles stood at 4,164 – recording a 45.3% growth month-on-month but also a 4.8% drop on a yearly basis. These accounted for 67% of the new vehicles registered this September.

The registration of new private transport vehicles stood at 1,342; which constituted 22% of the total new vehicles in the review period. Such registrations saw 28.3% and 38.1% growth on monthly and yearly basis respectively this September.

The registration of new motorcycles stood at 341, thus registering 25.8% and 2.1% month-on-month and year-on-year respectively in September 2020. Such registrations constituted about 6% of the new vehicles registered in the review period.

The registration of new heavy equipment declined 23.8% on a monthly basis to 211; even as it witnessed a robust 68.8% surge year-on-year in September 2020. It constituted 3% of the new vehicles in the review period,

The registration of new trailers stood at 33 units, which fell 35.3% month-on-month but grew 22.2% on a yearly basis this September. They constituted less than 1% of the total registration of new vehicles in the review period.

The new registration of other non-specified vehicles stood at 100, which shot up 85.2% and 13.6% on monthly and yearly basis respectively in September this year.

Clearing of vehicle-related processes stood at 96,040 units, which rose 8% on a monthly basis but declined 3.1% on a yearly basis in the review period.

The auto loans from the commercial banks in the country were nevertheless on a rough ride with the credit to both the nationals and the expatriates dropping in the review period, the Qatar Central Bank (QCB) data suggests.

According to the QCB data, auto loans for Qataris and expatriates had fallen 25.37% and 21.88% year-on-year respectively during the month in review.

The personal loan segment saw 2.74% growth for Qataris; while it fell 22.82% for non-Qataris in September 2020.

The transfer of ownership was reported in 29,293 vehicles in the review period, which saw a 21.6% growth on a yearly basis but was down 1.1% on a monthly basis. The transfer of ownership constituted 31% of the total clearing vehicles in September this year.

The renewal of registration was reported in 49,230 units, which saw a 6.5% jump month-on-month but declined 18.6% year-on-year in September 2020. They constituted more than 51% of the total clearing vehicles in the review period.

The re-registration of vehicles saw a 25% jump to 90 units on a monthly basis but treaded a flat path year-on-year in September 2020.

The cancelled vehicles stood at 1,786 units, which witnessed 23.5% increase month-on-month but shrank 12.1% year-on-year this September.

The modified vehicles were 3,793 in September this year, which saw 10.7% and 2.2% expansion on monthly and yearly basis respectively.

The number of lost/damaged vehicles was 4,156; which more than doubled in September on a yearly and doubled on monthly basis.



The number of vehicles meant for exports were 1,591; which grew 19% and 22% month-on-month and year-on-year respectively this September.


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Category Doha News | 2020/11/03 latest update at 10:50 AM
Source : Gulf News | Photocredit : Google
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